You know, I expected another rally but 391 DOW pts? Really? The S&P and Nasdaq were both up better than 3.5%. Jeez. Shit's insane.
So it appears to be a double bottom on the indexes. The bullish contingent is all lathered up and breathing heavy. It's the bottom! I say maybe for now. The DOW needs at least another hundred points for confirmation of a true double bottom.
We should expect more of these violent whipsaws going forward. No question, bear markets are difficult to trade. I feel confident though that we have not seen the lows for the year.
As for my personal trading, it's fair to say it's been bumpy this year. Yesterday I was under attack again but worked early in the day to limit exposure to the short side. I consider yesterday a success insofar as it could have been much worse than it was. I just need to stay in the game. I banked a lot of coin off of the declines we've seen thus far and I can envision a much greater opportunity not too far down the road.
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